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LyondellBasell Says Reliance Bid One of Many

By

Eric Yep and

Sunil Raghu

Updated Nov. 24, 2009 12:01 a.m. ET

MUMBAI -- Reliance Industries Ltd.'s offer to buy a controlling stake in LyondellBasell Industries is one of several non-binding offers received from other entities previously, a spokesman for LyondellBasell said late Monday.

Reliance, India's largest company by market value, Saturday said it made an initial all-cash offer for the bankrupt Netherlands-based chemical maker, which a person familiar with the matter said was in the neighborhood of $12 billion.